UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

Workers in Israel Stand United in Historic Strike Amid Democracy Concerns

 

Israel

In a potentially unprecedented move, workers across Israel are preparing for a massive strike after the government passed the first bill in a package of legal reforms. Critics argue that these reforms pose a threat to democracy in the nation. The country's largest labor union, Histadrut, is leading the charge, expressing grave concerns about the implications of these changes.

Histadrut's senior official, Peter Lerner, took aim at Prime Minister Benjamin Netanyahu for rejecting a compromise package proposed by the union. Lerner lamented that the government had missed a "historic opportunity to heal our nation and bring Israel back to sanity."

The government's late rejection of the union's proposals has further escalated tensions, paving the way for what could become an unprecedented show of unity and collective action by workers. The strike aims to convey a strong message to the government, demanding a reevaluation of these legal reforms and their potential impact on Israel's democratic values.

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